13.12.2022 Leoni AG  DE0005408884

EQS-Adhoc: Leoni AG: STARK Corporation refuses to perform the Closing of the sale of BG AM; refinancing plan cannot be implemented for the time being; credit facilities becoming due to be temporarily extended


 

EQS-Ad-hoc: Leoni AG / Key word(s): Mergers & Acquisitions/Financing
Leoni AG: STARK Corporation refuses to perform the Closing of the sale of BG AM; refinancing plan cannot be implemented for the time being; credit facilities becoming due to be temporarily extended

13-Dec-2022 / 11:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Leoni AG: STARK Corporation refuses to perform the Closing of the sale of the Business Group Automotive Cable Solutions; refinancing plan cannot be implemented for the time being; credit facilities becoming due to be temporarily extended

Nuremberg, 13 December 2022 – Leoni AG (ISIN: DE0005408884 / WKN: 540888) informs that all closing conditions for the closing of the sale and purchase agreement entered on 23 May 2022 with STARK Corporation Public Company Limited (STARK) on the sale of the Business Group Automotive Cable Solutions (BG AM)  have been timely fulfilled and that the Closing was scheduled to occur shortly. However, the buyer STARK has today unexpectedly demanded very significant amendments to the purchase agreement. Despite willingness to compromise on the side of Leoni, STARK  refuses to agree and will not perform the Closing.

As no grounds for non-performance of the Closing exist, STARK is in Leoni's view acting in breach of the contract. Leoni will take all measures to enforce its rights against STARK.

As reported, the transaction is linked to the refinancing plan, which is the basis for the financing of the Leoni Group until the end of 2025. For this purpose, Leoni has already signed a comprehensive contractual documentation of the refinancing plan with its syndicate banks and borrower's note holders on the basis of the agreement in principle reached in July 2022. An essential prerequisite for its implementation, however, is a partial repayment of financial liabilities with proceeds from the BG AM disposal. As a result of the non-performance of the contract by STARK, the refinancing plan cannot be implemented for the time being.

The syndicate banks have already declared (subject to customary approval processes) that they will temporarily extend the credit facilities maturing on 31 December 2022. Leoni will enter into discussions with the syndicate banks on suitable amendments to the refinancing plan.


Contact for journalists
LEONI AG
Gregor le Claire
Corporate Press Officer
Phone:    +49 911 2023-226
E-mail:    [email protected]


Contact for investors
LEONI AG
Rolf Becker
Senior Manager Investor Relations
Phone:    +49 911 2023-134
E-mail:    [email protected]

 

13-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Leoni AG
Marienstraße 7
90402 Nuremberg
Germany
Phone: +49 (0)911 20 23-234
Fax: +49 (0)911 20 23-382
E-mail: [email protected]
Internet: www.leoni.com
ISIN: DE0005408884
WKN: 540888
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; Madrid
EQS News ID: 1511753

 
End of Announcement EQS News Service

1511753  13-Dec-2022 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer:

INVESTOR-INFORMATIONEN
©boersengefluester.de
WKN Kurs in € Einschätzung Börsenwert in Mio. €
0,000 0,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 0,00 0,00 0,00
KBV KCV KUV EV/EBITDA
0,00 0,00 0,00 0,00
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,00% 0,00% 0,00% 0,00%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Leoni AG  ISIN: DE0005408884 können Sie bei EQS abrufen


Automobilzulieferer , 540888 , LEO , XETR:LEO